Equity Profile

SCCO

Southern Copper Corporation

MaterialsCopper$145.0B

Jul27Mon

Pre-Earnings Brief

UpcomingQ2-2026After Close9:00 AM EDT

Company Snapshot

Southern Copper Corporation (SCCO) is a major player in the copper industry, focusing on mining, smelting, and refining copper. As a key supplier in the materials sector, its performance is closely tied to global demand for copper, which is essential for various industries including construction and electronics.

Key Metrics to Watch

Copper Production

This metric indicates the company's ability to meet demand and manage costs, which is crucial for revenue.

N/A

Operating Costs

Monitoring operating costs helps investors understand profitability and efficiency, especially in a fluctuating commodity market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

SCCO Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+8.15%

Avg Stock Reaction

-0.30%

Last Quarter Recap

In Q1-2026, Southern Copper reported an earnings per share (EPS) of $1.92, exceeding expectations by 8.47%. However, the stock fell 4.28% the following day, indicating mixed market reactions despite the earnings beat.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are anticipating another strong performance from Southern Copper, particularly given its recent earnings surprises. However, uncertainty around copper prices and production costs could temper expectations.

Bull Case

If copper prices remain strong and production increases, Southern Copper could see significant revenue growth, leading to higher earnings and a positive stock reaction.

Bear Case

Conversely, if operating costs rise or copper prices decline, the company may struggle to maintain profitability, leading to disappointing earnings and a potential drop in stock value.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the copper production figures for Q2-2026?

Production levels are critical for assessing the company's ability to meet demand and manage costs, which directly impacts revenue.

How have operating costs changed in the current quarter?

Understanding cost dynamics is essential for evaluating profitability, especially in a volatile market.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of rising copper demand driven by green energy initiatives, which could lead to stronger-than-expected earnings.

Supporting Evidence

Recent trends show increased demand for copper in renewable energy projects, which may not be fully reflected in current estimates.

Options pricing suggests a significant move, indicating that traders expect volatility that could favor a positive outcome.

Key Risk

If copper prices exceed $4.50 per pound, it could significantly boost revenue and challenge current bearish sentiments.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on production capabilities and cost management, which are crucial for sustaining profitability.

Bull Confirmed If

A production increase of over 5% compared to the previous quarter would support a bullish outlook.

Bear Confirmed If

If operating costs rise by more than 10%, it would indicate potential profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±9.81%

Historical Avg

±2.7%

Pricing rich

The options market is pricing in a significant move post-earnings, suggesting that traders expect volatility based on the upcoming report.

Options are pricing ±9.8% while SCCO has averaged ±2.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

49.9%

Calls (317K)P/C Ratio: 0.50Puts (545K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Materials

n=30

Fade rate: 13 of 30 (43%)

This setup has occurred 30 times across Materials in the last 2 years. 13 of 30 faded and 17 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.8%, with a raw directional average of +0.2% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Southern Copper beats expectations, history suggests the stock could rise by around 0.39%, confirming a positive outlook.

In-Line / Cautious

An in-line report with cautious commentary may lead to muted reactions, reflecting uncertainty in the market.

Miss

If the company misses earnings expectations, history suggests a potential decline of around 5.10%, indicating negative market sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on copper production targets for the upcoming quarter.
2Details on any changes in operating costs and their drivers.
3Insights into market demand for copper, especially in renewable energy sectors.
4Management's outlook on copper prices and potential impacts on profitability.
5Any commentary on supply chain challenges or operational efficiencies.

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Company Snapshot

Key Metrics to Watch

Copper Production

This metric indicates the company's ability to meet demand and manage costs, which is crucial for revenue.

N/A

Operating Costs

Monitoring operating costs helps investors understand profitability and efficiency, especially in a fluctuating commodity market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

SCCO Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+8.15%

Avg Stock Reaction

-0.30%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If copper prices remain strong and production increases, Southern Copper could see significant revenue growth, leading to higher earnings and a positive stock reaction.

Bear Case

Conversely, if operating costs rise or copper prices decline, the company may struggle to maintain profitability, leading to disappointing earnings and a potential drop in stock value.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the copper production figures for Q2-2026?

Production levels are critical for assessing the company's ability to meet demand and manage costs, which directly impacts revenue.

How have operating costs changed in the current quarter?

Understanding cost dynamics is essential for evaluating profitability, especially in a volatile market.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of rising copper demand driven by green energy initiatives, which could lead to stronger-than-expected earnings.

Supporting Evidence

Recent trends show increased demand for copper in renewable energy projects, which may not be fully reflected in current estimates.

Options pricing suggests a significant move, indicating that traders expect volatility that could favor a positive outcome.

Key Risk

If copper prices exceed $4.50 per pound, it could significantly boost revenue and challenge current bearish sentiments.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on production capabilities and cost management, which are crucial for sustaining profitability.

Bull Confirmed If

A production increase of over 5% compared to the previous quarter would support a bullish outlook.

Bear Confirmed If

If operating costs rise by more than 10%, it would indicate potential profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±9.81%

Historical Avg

±2.7%

Pricing rich

The options market is pricing in a significant move post-earnings, suggesting that traders expect volatility based on the upcoming report.

Options are pricing ±9.8% while SCCO has averaged ±2.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.6%

30d HV

49.9%

Calls (317K)P/C Ratio: 0.50Puts (545K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Materials

n=30

Fade rate: 13 of 30 (43%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Southern Copper beats expectations, history suggests the stock could rise by around 0.39%, confirming a positive outlook.

In-Line / Cautious

An in-line report with cautious commentary may lead to muted reactions, reflecting uncertainty in the market.

Miss

If the company misses earnings expectations, history suggests a potential decline of around 5.10%, indicating negative market sentiment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on copper production targets for the upcoming quarter.
2Details on any changes in operating costs and their drivers.
3Insights into market demand for copper, especially in renewable energy sectors.
4Management's outlook on copper prices and potential impacts on profitability.
5Any commentary on supply chain challenges or operational efficiencies.